Global Agricultural Harvesting Equipment Market Size, Share, Opportunities, And Trends By Equipment (Combine Harvesters, Forage Harvesters, Harvesting Machinery Attachments), By End-User (Large-Scale Commercial Farms, Small And Medium-Sized Farms), By Technology (Conventional Harvesting Equipment, Precision Harvesting Equipment), And By Geography - Forecasts From 2024 To 2029

The agricultural harvesting equipment market is anticipated to expand at a high CAGR over the forecast period.

Agriculture is a form of cultivation that allows farmers to cultivate crops, animals, and marine life in different controlled environments. This practice allows individuals to acquire different kinds of products from cultivation, which include crops such as wheat, grains, rice, egg, meat, fish, and many others, depending on the type of cultivation. The different types of cultivation include agriculture, animal husbandry, and aquaculture, which focuses on the cultivation of crops, animals, and aquatic creatures and plants respectively. In Agriculture, the collection and management of crops are conducted through the use of different equipment that are acquired throughout the market. The core equipment used for the majority of the agricultural collection activities is the harvesting equipment. 

Introduction:

Harvesting equipment comes in a wide variety of types, which include combine harvesters, tractors, balers, cultivators, mowers, and many others. Harvesters help in the removal of ripened or matured crops from the farm during specific periods of the crop known as the harvesting season. Combine harvesters are known to have a combination of different harvesting processes in a singular machine, which includes the reaping, threshing, and windrowing processes. As the increase in crop production is expected at a significant rate, the global agricultural harvesting equipment market is also expected to display significant growth during the forecast period.

Market Drivers:

Growth in crop production worldwide: The increase in the global population is one of the major factors that affect the growth of crop production, which in turn increases demand for improved and efficient agricultural equipment and products that can increase the yield and harvest of the crops. To meet the demands of food insecurity worldwide, increased production and research of new agricultural products and equipment are on the rise. The increase in crop production can be linked to the increase in sales and production of agricultural equipment, from which the harvesting equipment is considered a piece of core equipment in the agricultural process. The crops that are cultivated in the largest quantities include wheat, coarse grains, rice, oilseeds, and cotton. As per the United States Department of Agriculture (USDA), global grain production displayed an increase from 2,793.9 million metric tons in 2021-22 to an estimated amount of 2,748.2 million metric tons in 2022-23. It is also expected to show an increase to reach an estimated value of 2,812.3 million metric tons by January 2024. Other production crops include oilseeds and cotton as well, which also display a significant increase during the forecast period. Oilseed production is expected to reach 660.2 million metric tons by January 2024 from 611.8 million metric tons in 2021-22. This increase in the production of crops will be expected to provide the necessary boost to the global agricultural harvesting equipment market growth during the forecast period.

Key Players:

• Deere & Company (John Deere): An American multinational company that is known for the production and manufacturing of agricultural machinery, heavy equipment, and several other products. They are also known for their supply of replacement parts and provide financial services for their products and those of other manufacturers.
• CNH Industrial N.V.: A multinational company that is known for the manufacture, design, and marketing of agricultural and construction equipment, trucks, commercial vehicles, buses, and other speciality vehicles. They also provide replacement parts, services, and accessories for agriculture and construction industries.

Regional Analysis:

The Asia Pacific region is expected to witness significant growth in the agricultural harvesting equipment market during the forecast period of 2024-2029, due to factors such as an increase in world crop production. The use of harvesting equipment is considered a core process in the overall agricultural process, which displayed increased demand as the technology advanced. The increase in world crop production can have a positive effect on the agricultural equipment market growth because the increase in crop production can be linked to increased productivity and efficiency of crop collection and processing, and also the innovation of newer and better agricultural technology. China and India are the leaders in the production of grains and oilseeds in the Asia Pacific. As per the monthly report published by the United States Department of Agriculture (USDA), grain production in China displayed an increase from 566.8 million metric tons in 2021-22 to an estimated amount of 569.2 million metric tons in 2022-23. It is also expected to show an increase to reach an estimated value of 578.4 million metric tons by January 2024. Other production crops, which include oilseeds and cotton, also displayed significant increases during the forecast period. Oilseed production is expected to reach 67.9 million metric tons by January 2024 from 62.1 million metric tons in 2021-22. This increase in crop production can be linked to the increase in efficiency in the harvesting process, which increased due to improved and enhanced harvesting pieces of equipment in the market. Therefore, the increase in global crop production can lead to an increase in demand for better agricultural equipment, which in turn is expected to provide the necessary fuel for the global agricultural harvesting equipment market growth during the forecast period.

Market Developments:

• September 2023: Swaraj Tractors announced the release of their new range of tractors to address the increasing demand in Indian Agriculture. Swaraj Tractors is a part of the Mahindra Group and has been rapidly increasing its influence across India. Their new range of tractors includes several tractor equipment from 40 to 50 HP categories. Their new product range boasts new performance standards in the fast-growing agriculture sector, with features that can seamlessly blend power, reliability, and style that can conquer any kind of challenge with their latest technology integrated into their tractors. Their products are designed to handle heavy and modern implements with ease, which enables enhanced agricultural operations and allows them to meet the demands of modern-day agriculture.

Segmentation:

• By Equipment:
  • Combine Harvesters
  • Forage Harvesters
  • Harvesting Machinery Attachments
• By End-User:
  • Large-Scale Commercial Farms
  • Small and Medium-Sized Farms
• By Technology:
  • Conventional Harvesting Equipment
  • Precision Harvesting Equipment
• By Geography:
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others